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I requested a withdraw of 0.72BTC 30 hours ago. I still have not received it. Any body else has such problem?
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The issue with PoS is the fact that not only centralizes power (the people who have more get more), but it doesn't allow new players to enter the market in an easy way, since the only way is to buy the coins from another holder, so it's definitely not a solution, long or short term.
I agree with that. PoS is unfair to the later comers. Richers get richer. An ideal coin would be the one which has fixed or predictable inflation, so the hoarders will have value reduced slightly every year. New comers can get it through mining. |
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As a temporary solution to fight the continuous dumpfests currently choking the market I'll reduce block reward to 50k coins per block (static) effective after block 63500 has been reached.
This will allow for some time to consider next steps regarding either PoS or planned out static rewards. Opinions on the issue are welcome.
The code and wallet updates will be pushed in a few hours.
The reason why PND is dumped in the market is that it is profitable to do so with current hashing rate and difficulty level. If you reduce the block reward to 50k, then the hashing rate will reduce accordingly, it will be dumped again. It is in vicious cycle. You may not be able to increase the price by reducing the reward. Dodge is an example. The reward halved, the price was the same as difficulty halved. Too low hashing rate will make the PND network vulnerable due to very low hashing rate. With 250k reward, the hashing rate is 100MH/s, If you reduce it to 50k, the hash rate could be 20MH/s. It is very dangerous. So I would suggest keeping the current reward halving schedule. That was known from the beginning and we mine PND because of that. Making it fixed reward is a good idea. But please give us long warning time. You may also change it to scrypt-N. But that is too similar to PANDA. I think the future of PND is in scrypt-N. SpainCoin has been changed smoothly to scrypt-N. This could be done on block 100k or later, giving us long enough warning. The depressing of the price is due to little use of PND. |
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If BTC is a property, not a currency, would Money Transfer Business licence still be applied?
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Then you need a new coin  I'm making 0.014 BTC a day with the new "depressed" pricing, and electricity costs are around $35/month, so ~$1.10 per day. This is with cards that only pull 25-35 watts apiece mining memory-intensive coins - 400 watts in 2 machines at 110V. Bigger isn't always better, it just uses more electricity Which coin? |
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I have several orders which I know the queue number. The one got filled was very late in the queue. All the earlier ones were not filled before that one. |
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•1 Share @ ฿1 = 100MH/s scrypt hashing power (1/20) + 3% hosting fee on top of electricity costs. You have BTC1=100MH/s... just thought I let u know Looking at it now, that is a tad confusing at first, I'll reword it. Thanks LD! 1 Share @ ฿1 = 10MH/s scrypt hashing power (1/20th of 100MHs) + 3% hosting fee on top of electricity costs. should be 1 Share @ ฿1 = 5 MH/s scrypt hashing power (1/20th of 100MHs) + 3% hosting fee on top of electricity costs. |
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The price of Titan is about 16Bitcoin at the moment. So 1BTC should buy 1/16 of the hashing power. You mention that we will only get 1/20. Is the rest your profit?
So the group buy will be more expensive than buying direct?
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It is funny how people create inexistent problems and then propose even more absurd solutions to them.
Just use millibitcoin instead of bitcoin. 0.65 instead of 650. problem solved.
Just use millibitcoin now and in 10 years, use microbitcoin, then in 50 years, use statoshi. |
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Should all the important new features be voted for by the community?
The POS is a fundamental change. We do not want it to be imposed on us.
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If an ASIC was created for the current N factor of 11, then it would be obsolete when the N factor raises to 12. Creating and fabing a custom ASIC chip has a startup cost of at least $500,000 and maybe closer to $1 million. Companies would have to repeat this process every 1.5 years when the N factor increases.
It is not a problem for ASIC manufacturers to repeat this process as the useful life time of a miner is just several months because of the difficulty increase. In bitcoin mining, if you cannot make ROI (return of investment) in two months, you will not get your investment back, as after two months, the electricity cost will be more than the bitcoin mined. The bitcoin ASIC are updated every few months. So 1.5 years is more than enough for N factor ASIC update. In order to make Vertcoin more ASIC resistant, I would suggest: 1. Use fractional N factor, such as 11, 11.2, 11.5 etc to reduce the time to change N factor from 1.5 year to several months. I do not know if it is possible. 2. Use random N factor, such as 11, 12, 10, 9, 13 etc. That is, in one block, use 11, next block use 12, next 10. It might be difficult for ASIC to adapt to this. It is easy for GPU based system. |
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It is normal for the top card to be hotter in the Tower case as heat goes up. 290 use more power than 7950.
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If an ASIC was created for the current N factor of 11, then it would be obsolete when the N factor raises to 12. Creating and fabing a custom ASIC chip has a startup cost of at least $500,000 and maybe closer to $1 million. Companies would have to repeat this process every 1.5 years when the N factor increases.
But if there are many coins out there, there could be N factor 11 coins out there to be mined. So the ASIC can last longer. In the future, there might be N factor 11,12,13,...,100 ASIC out there, they can mine different coins at different stages. |
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What does "Vert" in Vertcoin mean?
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Do you not know who Buffet is? He may be wrong, but he's far from an idiot when it comes to investing.
Yes I know who he is.. And He was born in 1930. Ok - I am sorry he is not an idiot. He just do not like IT technologies  (EDITED : perhaps he did like IBM:P) He invested in IBM because IBM was a service company with positive cash flow, hence, low risk. He sold IBM shares later, maybe he found out it was a high tech company. |
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The reasoning is understandable, but they should have anticipated that.
But, 1.50x for 40-60 would be better. The 60+ should be 1,25 so at least there is some extra gain..
I'm at 1.07335834 LTC after 12 hours with 7MH/s. Is this OK? I usually only do BTC..
(Do i need to set stratum difficulty? They are set at 0 right now as default..)
Theoretically, you should get 1.5 LTC, however, because of the PPLNS system, you have to stay there long to have all your shares counted. |
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WARNIIIIIIIIG!
@MintPalExchange
Due to continued lack of buy orders and low volume, we will be closing the PND/BTC market in next 48 hours. The PND/LTC market remains open.
What market to trade PND/BTC now?
But there are not many trades in PND/LTC market either. So there are not much points mining PND at the moment. |
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The coin cannot be sold easily so the miners are deserting. We need to find some use for it, not just for trading into other coins.
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